(Reuters) – Ford on Wednesday joined the automotive industry in reporting a weaker growth in third-quarter U.S. new vehicle sales, as buyers continued to shy away from purchases on affordability concerns.
Major automakers in the United States, including Toyota and General Motors, reported weaker sales for the third quarter on Tuesday, with some citing affordability concerns and fewer selling days as a drag on performance.
Ford’s overall sales in the quarter rose to 504,039 units from 500,504 a year ago. This compares to a 7.7% rise in sales for the same period last year.
Overall, U.S. new vehicle sales in September stood at around 1.17 million units, which represents a seasonally adjusted annual rate of 15.77 million units, according to data released by Wards Intelligence on Tuesday.
(Reporting by Nathan Gomes in Bengaluru; Editing by Shreya Biswas)
